Guinness Atkinson Asset Management Inc Has $2.67 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Guinness Atkinson Asset Management Inc increased its position in Broadcom Inc. (NASDAQ:AVGO) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,508 shares of the semiconductor manufacturer’s stock after purchasing an additional 886 shares during the quarter. Broadcom makes up 1.4% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 23rd largest position. Guinness Atkinson Asset Management Inc’s holdings in Broadcom were worth $2,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. MassMutual Private Wealth & Trust FSB raised its stake in Broadcom by 8.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 188,698 shares of the semiconductor manufacturer’s stock valued at $43,748,000 after buying an additional 14,193 shares during the period. Corundum Group Inc. increased its holdings in shares of Broadcom by 5.2% during the 4th quarter. Corundum Group Inc. now owns 5,837 shares of the semiconductor manufacturer’s stock worth $1,353,000 after acquiring an additional 289 shares during the last quarter. Purus Wealth Management LLC raised its stake in Broadcom by 3.2% in the 4th quarter. Purus Wealth Management LLC now owns 43,187 shares of the semiconductor manufacturer’s stock valued at $10,013,000 after acquiring an additional 1,342 shares during the period. Penn Davis Mcfarland Inc. acquired a new stake in Broadcom during the 4th quarter valued at $221,000. Finally, SFG Wealth Management LLC. acquired a new stake in Broadcom during the 4th quarter valued at $226,000. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Up 1.2 %

NASDAQ AVGO opened at $240.31 on Wednesday. The business has a fifty day moving average price of $203.18 and a two-hundred day moving average price of $178.65. The stock has a market capitalization of $1.13 trillion, a PE ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.